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Supreme Court Disregards ERISA and Goes Further Astray in Applying Bankruptcy Law to Retirement Assets
Albert Feuer, via SSRN Link to more items from this source
[Opinion]
Aug. 19, 2014
"The Court's implicit addition of the phrase 'debtor's created' at the start of the exemption is based on its unexamined assumption that otherwise the phrase, 'Retirement funds to the extent that those funds are in,' would be rendered 'superfluous.' ... The phrase 'retirement funds to the extent that those funds are in' has a significance without the addition of any words that is consistent with the legislative history of the phrase, the other bankruptcy provisions, and ERISA.... Under this analysis the bankruptcy fund protection would be available to the participants and beneficiaries of such non-ERISA pension plans." [Clark v. Rameker, No. 13-299 (U.S. June 12, 2014)]

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